a bitcoin christmas – Bitcoints

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Published on July 21st, 2015 | by bitcoin

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a bitcoin christmas

Information about a bitcoin christmas

Bitcoin

Bitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee.
Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors. Unlike credit cards, any fees are paid by the purchaser, not the vendor. The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a big increase in the number of merchants accepting bitcoin, the cryptocurrency doesn’t have much momentum in retail transactions.
The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and media. Criminal activities are primarily centered around black markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.

Christmas

Christmas or Christmas Day (Old English: Crīstesmæsse, meaning “Christ’s Mass”) is an annual festival commemorating the birth of Jesus Christ, observed most commonly on December 25 as a religious and cultural celebration among billions of people around the world. A feast central to the Christian liturgical year, it is prepared for by the season of Advent or Nativity Fast and is prolonged by the Octave of Christmas and further by the season of Christmastide. Christmas Day is a public holiday in many of the world’s nations, is celebrated culturally by a large number of non-Christian people, and is an integral part of the Christmas and holiday season.
The celebratory customs associated in various countries with Christmas have a mix of pre-Christian, Christian, and secular themes and origins. Popular modern customs of the holiday include gift giving, completing an Advent calendar or Advent wreath, Christmas music and caroling, an exchange of Christmas cards, church services, a special meal, and the display of various Christmas decorations, including Christmas trees, Christmas lights, nativity scenes, garlands, wreaths, mistletoe, and holly. In addition, several closely related and often interchangeable figures, known as Santa Claus, Father Christmas, Saint Nicholas, and Christkind, are associated with bringing gifts to children during the Christmas season and have their own body of traditions and lore. Because gift-giving and many other aspects of the Christmas festival involve heightened economic activity, the holiday has become a significant event and a key sales period for retailers and businesses. The economic impact of Christmas is a factor that has grown steadily over the past few centuries in many regions of the world.
While the month and date of Jesus’ birth are unknown, by the early-to-mid 4th century, the Western Christian Church had placed Christmas on December 25, a date later adopted in the East, although some churches celebrate on the December 25 of the older Julian calendar, which, in the Gregorian calendar, currently corresponds to January 7, the day after the Western Christian Church celebrates the Epiphany. The date of Christmas may have initially been chosen to correspond with the day exactly nine months after the day on which early Christians believed that Jesus was conceived, or with one or more ancient polytheistic festivals that occurred near southern solstice (i.e., the Roman winter solstice); a further solar connection has been suggested because of a biblical verse identifying Jesus as the “Sun of righteousness”.

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